PDT Partners LLC Grows Stake in Nabors Industries Ltd. (NYSE:NBR)

PDT Partners LLC increased its stake in shares of Nabors Industries Ltd. (NYSE:NBR) by 49.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,659 shares of the oil and gas company’s stock after purchasing an additional 15,494 shares during the period. PDT Partners LLC owned 0.49% of Nabors Industries worth $3,008,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NBR. FMR LLC raised its holdings in shares of Nabors Industries by 10.6% during the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after acquiring an additional 4,949 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Nabors Industries by 6.4% during the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 322 shares in the last quarter. Entropy Technologies LP acquired a new position in Nabors Industries in the 3rd quarter valued at $600,000. Signaturefd LLC lifted its holdings in Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 472 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Nabors Industries in the 3rd quarter valued at $45,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Price Performance

NBR stock opened at $73.21 on Friday. Nabors Industries Ltd. has a 52-week low of $59.67 and a 52-week high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The stock has a market cap of $699.16 million, a price-to-earnings ratio of -4.03 and a beta of 2.09. The business has a fifty day moving average of $74.25 and a two-hundred day moving average of $74.95.

Analyst Upgrades and Downgrades

NBR has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Evercore ISI cut their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Citigroup boosted their target price on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Finally, Susquehanna reduced their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.00.

Nabors Industries Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.